The following appears on democratandchronicle.com
Ursula Burns officially retired from the board of directors of Xerox Corp. on Tuesday, ending her affiliation with the Connecticut-based document technology company.
Shareholders at the company’s annual meeting approved a one-for-four reverse stock split, effective mid-June. The move is “intended to increase the per-share trading price of Xerox common stock and should improve its liquidity and facilitate its trading,” according to a news release.
Based on Tuesday’s closing price of $6.95, a reverse split would value Xerox shares at roughly $27.80.
